What loans are available from CashASAP?
There are two loan options to choose from. The first is a payday loan that allows you to borrow between £100 and £400. They also have a multi-month loan that offers loans between £100 and £750.
How do their repayment schedules work?
You can repay the payday loan on any day you wish within 35 days of receiving the funds, which is broken down into one payment. Taking out a multi-month loan means you can spread payments across periods up to 3 months.
What sort of interest rates are available with CashASAP?
The APR for a payday loan depends on the loan repayment period. If you borrow for just 1 day, the APR is 1692%. The APR reduces to 1192% if you borrow over 35 days the
Taking out a loan of £175 for 19 days with a fixed annual interest rate of 290% would mean an APR of 1390% and a single instalment repayment of £201.42.
For a multi-month loan, the APR ranges from 1088% - 1205% APR depending on your specific loan requirements.
Split across 3 months, taking out a loan of £250 with a fixed annual interest rate of 290% and an APR of 1271% would mean paying back three instalments of £119.67 and a total of £359.01.
How do you apply for a CashASAP loan?
Basic requirements needed to apply for a CashASAP loan are:
- You must be 18-years-old or over
- Working part or full-time
- Have a UK bank account and associated Visa debit card
- Be a full UK resident
The application process begins by completing the online form and you will then be asked to supply more details about your income and expenditure, as well as your credit history.
Are there any late payment fees?
CashASAP may charge you an extra £10 for a late payment.
They also advise you to get in touch with the customer service team if you are experiencing financial difficulties.
At their discretion, CashASAP may allow you to ‘rollover’ the loan. While this will extend the loan period and give you more time to pay, it will also increase the amount of interest also outstanding.
Can you repay the loan early?
CashASAP give you the option to repay some or all of the loan early via your online account or via bank transfer. They state there are no additional fees or charges applied for the early repayment of a loan.
How soon will CashASAP transfer the money?
No exact time frame is mentioned by CashASAP on their website. They do state that funds will be transferred as soon as possible and in most cases this tends to be immediately.
Are CashASAP regulated by the FCA?
CashASAP are operated by APFIN Ltd and have been authorised by the FCA since 9/2/16, which you can find further details of on their FCA register page.
What is the best way to contact customer services?
Customers can call 0845 094 1905 between 8am and 9pm Monday to Friday, 8am to 7pm on Saturdays and Bank holidays and 9am to 7pm on Sundays.
Alternatively you can email info@cashasap.co.uk.
Are CashASAP on social media?
Twitter: @cashasapUK
Can customers use an app or online account?
No CashASAP app is currently available, but if your application for a loan is successful you will be given a log-in for an online account where you can manage your repayments.
What are other customers saying about CashASAP?
CashASAP have an ‘Excellent’ rating of 4.4/5 on Trustpilot, which is based on 1,449 reviews as of March 2020.
CashASAP summary
CashASAP are a direct lender offering access to payday and multi-month loans for customers who may struggle to secure credit elsewhere.
Payday loans (Representative APR 1390%) between £100 and £400 are available, which can be repaid anywhere up to 35 days in a single instalment. Multi-month loans (Representative APR 1271%) loans extend the maximum loan value up to £750, which is spread across three monthly instalments.
To apply for a CashASAP loan the company ask that you are:
- At least 18-years old
- In part or full-time work
- The owner of a UK bank account and linked Visa debit card
- A UK resident
Loans can be repaid early without additional charge and you can also ‘rollover’ the loan to extend the terms, although this will increase the level of interest added to the outstanding amount.
Fund are transferred as soon as possible, although no specific time frame is mentioned. CashASAP are authorised and regulated by the FCA and customer reviews on Trustpilot show an ‘Excellent’ rating of 4.4/5.